Jeffrey Loria Agrees To Sell Marlins To Derek Jeter, Bruce Sherman Group

Jeter poised to take the next step

The Miami Herald is now reporting that an agreement has been struck with Jeffrey Loria to sell the club to a group headed by Jeter and business partner Bruce Sherman.

Derek Jeter and Micheal Jordan will always have mad love for the game of baseball.

Jeter, who is 43, retired following 20 seasons with the Yankees.

Yankees Place Masahiro Tanaka on the Disabled List
Tanaka reportedly told manager Joe Girardi that his arm felt exhausted and the issue is not structural. Tanaka issued a career-high five walks in four-plus innings at Toronto on Wednesday.

Talks between Sherman, Jeter and Loria have been ongoing for months. Quogue Capital founder Wayne Rothbaum, who led a third group that included former Florida Gov. Jeb Bush, dropped out of the bidding earlier this week. In addition to Jeter, the ownership group has an athletic dimension thanks to a stake from Michael Jordan, who invested an unknown amount of money with the group. The business manager for Jordan, Estee Portnoy, has confirmed that the owner of the NBA Charlotte Hornets remains part of the Jeter investment group. The Hornets are now said to be worth over $780 million. He funded his purchase through the sale of the Montreal Expos to Major League Baseball for the price of $120 million and covered the remaining $38 million through a loan by Major League Baseball. Loria chose to sell the team for personal reasons.

Miami won the 2003 World Series but has not returned to the postseason since.

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